The Japanese Financial Services Agency (FSA) published a discussion document proposing to divide digital assets into two categories: commercial and non -profit.

In the report “Study of the structure of systems associated with cryptocurrencies”, the Japanese financial regulator proposed dividing cryptoactives into two basic categories: commercial or investment tokens released to attract funds (type 1), and non -profit, such as bitcoin and ether (type 2). According to the regulator, this will eliminate the information asymmetry existing in the market.

“Type 1 cryptoactives need additional guarantees and transparency for investors, while for type 2 we can focus on the control of their market stability through adjustable exchanges,” the agency said.

For example, for type 1 assets used in commercial projects and fundraising, FSA will require issuers of detailed disclosure of information about the use of funds, the rules for doing business and measures against the market manipulations. For assets of type 2, where issuers are often absent, control will be carried out through exchanges that monitor price fluctuations.

Regulation is planned on the basis of the law on financial instruments and exchanges (FIEA), which will allow the use of existing mechanisms to combat fraud and insider trade.

Public comments on the proposal will be accepted until May 10. Then the FSA plans to finalize the rules taking into account the opinion of the public and international regulatory trends.

Earlier, the Japanese financial services agency turned to regulators of other countries calling for representatives of the cryptocurrency industry as commercial banks and regulate the industry, respectively applicable to them.